 Mr. Laghman Rahim and Aslan Nikham Pakistan, good to be back with the Serbians Oxley Act 2002 part 3. We were looking at the role of the auditor and the audit committee and now we are going to be looking at the role of the director and how they can be or cannot be conflict of interest. Now, the SOX Act prohibits US and foreign companies with securities trading within the US from making or arranging from third parties any type of personal loan to directors. So, again what we see is is that in this particular act getting loans for its directors even indirectly is prohibited. It is not that they cannot take any loan from the company or the group of companies but also they cannot take loans from other associated companies because that again would be a conflict of interest. What we see is that the role of attorneys is also identified, the attorneys dealing with the publicly traded companies are required to report evidence of material violation of securities law to CEOs. So, again the attorneys would act as barriers to misappropriation and they would also be identifying issues to the CEO of the company. The securities analysts are also very important especially in large companies, brokers and dealers of securities should not retaliate or threaten to retaliate within an analyst. So, again this is also extremely important and then moving ahead the act further provides for disclosure of conflict of interest by the securities analysts. Any compensation received by the broker-dealer or analyst, the company who is the issuer has been a client of the broker or dealer. The analysts receive compensation with respect to a research report based on the investment of banking revenue. So, all of these are very important and they have to be disclosed if they had taken place and if not then in the future they cannot take place because that is moving towards corporate governance. The penalties are also very high, those penalties prescribed under SOX Act for any wrongdoing are very stiff and heavy penalties are bound to be determined for wrongdoing. So, again what we see is that these heavy penalties ensure that the wrongdoing is not done and people abstain from doing any wrongdoing and therefore they all work for the optimal utilization of resources for the betterment of the organization. The act enhances accountability levels for directors, officers, auditors, security analysts and legal counts. So, what we see get initially it was only focused towards the board of directors but now it has gone cross-border, cross-stakeholder looking at directors, at senior officers, at auditors, at security analysts and also the legal counsel. The SOX Act makes it clear that the company senior officers are responsible for the corporate culture they create. So, again whatever culture they are creating those officers are going to be responsible and they are going to be held accountable to any wrongdoing or towards any misinterpretation which is very very important. Studies to be conducted by the SECs which basically is the Security Exchange Commissions are the auditors rotation of balance sheet transactions, consolidation of accounting firms and its impact on the accounting industry, role of credit rating agency. So, all of these things and all of these institutions would be amalgamated to ensure that better corporate governance can be ensured and better good governance can be implemented. Now, the study of violators and violations during the years 1991 to 2001, SEC enforcement actions over the past five years, role of investment banks and financial advisers, principle based accounting. So, these are the expectations which are going to emerge from the Serbanes Oaksley Act and especially those companies who are not registered under the Serbanes Oaksley Act they must get registered to ensure a higher level of professionalism and also to ensure that whatever portfolios they have they would be streamlined and also reassessed. So, that becomes very very important and also ensures a better audit and a better function and a better performance of the organization. So, that is the importance of the Serbanes Oaksley Act that it is a very punctual, very functional, very adroit act rules of regulations which can be easily followed by the employees of the organization for the benefit of the employees and also the organization. So, therefore they are creating this win-win situation through this particular legal framework which is just wonderful because it brought about a sea change in corporate governance around the world. Thank you so much.